A South Hams estate agent has said that despite a drop in UK house prices, the local market “remains positive”.

Karen Cottrell, Associate and Branch Manager of Stags, Kingsbridge, made the comments in response to today’s Nationwide House Price Index figures.

The figures showed that the UK has seen its first monthly decline in house prices since July 2021, dropping by 0.9 per cent in October.

This represents a slowing of the national housing market, as the annual change dropped from 9.5 per cent in September to 7.2 per cent in October.

However, local estate agents have said that they are still seeing plenty of demand for properties in the area.

Speaking to the South Hams Gazette, Karen Cottrell commented: “From our perspective here at Stags Kingsbridge the market remains positive.

“However it is indeed a different place now than it has been over the last couple of years – but could that really have continued?

“We are seeing the demand for good quality properties across the South Hams continuing from a wide range of buyers.

“These include family relocations, couples retiring to the area to be close to family, second home/letting investor buyers and from those already living within the area wishing to up or downsize.

“We work tirelessly for each of our important clients, the sales that we have recently agreed have been at or in excess of Guide Prices and all the time that demand is high there is no reason for this to alter.

“One area of the market on which we have received less positive feedback are those properties requiring lots of renovations as some buyers are concerned over the increased costs of materials; however correct pricing levels, wide marketing and a proactive approach still brings amazing results.

“The negative press comments fuels uncertainty amongst some buyers and sellers, but here on the ground it is a very different story.

“There will always be sellers that need to sell and buyers that need to buy, along with those heart-felt buyers that would like their own piece of Devon.. long may this continue.”